Western Gas Acquires Equus gas project from Hess
Western Gas has acquired the undeveloped Equus gas project off the North West from US energy company Hess with a view to supplying domestic gas to the State.
Western Gas said the timing was right to develop the field given the Australian Energy Market Operator had warned of the risk of a shortfall of WA domestic gas after 2021.
Hess last year put on hold the development of Equus, located in the western fringes of the Carnarvon Basin and estimated to contain about two trillion cubic feet of gas.
The Western Australian company has acquired four permits and a retention lease from Hess, comprising 11 gas and condensate fields. Its estimated resource includes 42 million barrels of condensate.
“Western Gas is driven to develop Equus as a vital new source of gas that can bridge supply shortfalls and provide energy security to Western Australian industry, businesses and households,” Western Gas executive director, Mr Leibovitch said.
“Equus provides a great opportunity for the timely development of Western Australia’s discovered gas reserves to meet the needs of local gas customers, particularly when the eastern states of Australia are experiencing a major energy crisis and exploration is in decline.”
More: Western Gas
Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook